24 Exchange processed $1.49 billion in average daily non-deliverable forward currency (NDF) for its global institutional clients in February 2023, setting a new ADV record. The FX NDF platform also hit a record single-day volume of $1.9 billion last month.
24 Exchange’s new result comes a month after the trading platform, which launched in 2019, crossed the $1 billion mark in its FX NDF ADV. In other words, the average daily volume of the NDF forex platform has increased by around 50% in the last month.
Earlier in October, 24 Exchange released daily and weekly highs in its forex NDFs. At the time, daily forex NDFs traded on the platform hit a record high of $1.476 billion on the 21st of this month.
Speaking on the new record, Dmitry Galinov, CEO and co-founder of 24 Exchange, praised the industry’s response to the company’s FX NDF offerings. 24 Exchange, which is regulated by the Bermuda Monetary Authority, also offers crypto spot trading, crypto NDFs, FX swaps, and spot FX.
“Our platform is the only one capable of linking the bifurcated liquidity pool in the NDFs to unlock a unique anonymous liquidity pool for discerning institutional clients,” Galinov noted.
In the meantime, finance tycoons reported on Wednesday that institutional forex trading activity slowed in February 2023 following the post-holiday recovery recorded in January. The market trend is based on new FX spot data released by Cboe FX And The Deutsche Borse 360Ttwo of the largest institutional spot currency trading platforms.
Cboe FX and 360T reported month-over-month (MoM) declines in their total trading volumes in February. FX Daily Futures as well slimmed down in japan such as Click 365, a daily FX futures contract on the Tokyo Financial Exchange, slipped 11.1% month-on-month to around 2.4 million with an average daily volume of over 118,000.
However, when compared year over year, these trading platforms had a mixed performance in February. While Cboe FX recorded better performance in February 2022 compared to last month, 360T and Click 365 boast a better output in February 2023 compared to the same period last year.
24 Exchange processed $1.49 billion in average daily non-deliverable forward currency (NDF) for its global institutional clients in February 2023, setting a new ADV record. The FX NDF platform also hit a record single-day volume of $1.9 billion last month.
24 Exchange’s new result comes a month after the trading platform, which launched in 2019, crossed the $1 billion mark in its FX NDF ADV. In other words, the average daily volume of the NDF forex platform has increased by around 50% in the last month.
Earlier in October, 24 Exchange released daily and weekly highs in its forex NDFs. At the time, daily forex NDFs traded on the platform hit a record high of $1.476 billion on the 21st of this month.
Speaking on the new record, Dmitry Galinov, CEO and co-founder of 24 Exchange, praised the industry’s response to the company’s FX NDF offerings. 24 Exchange, which is regulated by the Bermuda Monetary Authority, also offers crypto spot trading, crypto NDFs, FX swaps, and spot FX.
“Our platform is the only one capable of linking the bifurcated liquidity pool in the NDFs to unlock a unique anonymous liquidity pool for discerning institutional clients,” Galinov noted.
In the meantime, finance tycoons reported on Wednesday that institutional forex trading activity slowed in February 2023 following the post-holiday recovery recorded in January. The market trend is based on new FX spot data released by Cboe FX And The Deutsche Borse 360Ttwo of the largest institutional spot currency trading platforms.
Cboe FX and 360T reported month-over-month (MoM) declines in their total trading volumes in February. FX Daily Futures as well slimmed down in japan such as Click 365, a daily FX futures contract on the Tokyo Financial Exchange, slipped 11.1% month-on-month to around 2.4 million with an average daily volume of over 118,000.
However, when compared year over year, these trading platforms had a mixed performance in February. While Cboe FX recorded better performance in February 2022 compared to last month, 360T and Click 365 boast a better output in February 2023 compared to the same period last year.